The US Securities and Exchange Commission (SEC) has acted as a significant step toward shaping the future of digital assets. The agency’s Crypto Task Force will hold a roundtable later this month to discuss the ‘security status’ of digital assets and cryptocurrencies. Today’s event starts with a more significant effort to give the crypto business a clear and organized set of rules. The SEC has changed how it enforces crypto laws, which is why this meeting is happening now.
Spring SEC Chase for Crypto Clarity
The roundtable, part of the SEC’s “Spring Sprint Towards Crypto Clarity” program, will take place on March 21 at the SEC’s main office in Washington, DC. The title, “How We Got Here and How We Get Out—Defining Security Status,” suggests that it will discuss the complicated legal status of digital assets.
Fresh leadership to shape crypto regulation
The SEC announced the lineup of its 14-person Crypto Task Force, which includes both law experts and seasoned regulators. The top counsel will be Michael Selig, who used to be a partner at Willkie Farr & Gallagher. In the past, Selig has worked with crypto, NFT, and stablecoin companies. He has also defended clients in prosecution cases before the SEC and the Commodity Futures Trading Commission (CFTC).
Other important appointments:
- Sumeera Younis – Operations Chief
- Richard Gabbert – Chief of Staff
- Taylor Asher – Chief Policy Adviser
- Landon Zinda – Senior Adviser, formerly of Coin Center
Chris Giancarlo, better known as “Crypto Dad,” praised Selig on his new job and called him a “protégé” in the field.
Crypto Regulation Changes
The task group aligned with Mark Uyeda’s efforts to change how the SEC regulates crypto. Since starting the task group in January, Uyeda has been less strict than the previous administration.
A Crypto Regulation Turning Point
As a result of holding high-level meetings and hiring experienced professionals, the SEC may soon have more explicit rules for the crypto business. The roundtable on March 21 is expected to give important information about how crypto assets will be categorized and controlled.
Conclusion
The crypto community is paying close attention as the SEC changes its mind. What comes out of these talks could affect the future of digital assets and make the rules clearer and easier to follow.
